Ministry of Trade, Industry and Resources
Activity
South Korea Extends Fuel Price Cap Freeze for Two Weeks Amid Oil Market Volatility
South Korea's government will maintain current fuel price caps until mid-April to offset international oil market volatility. The measure aims to keep fuel prices stable amid ongoing global energy fluctuations.
Korea, China, and ASEAN Initiate Talks to Expand and Strengthen Bilateral Free Trade Agreements
Korea is holding its first joint committee meeting with ASEAN to discuss upgrading their Free Trade Agreement, focusing on digital and critical minerals. Simultaneously, Korea and China are beginning their 14th round of negotiations to expand their bilateral FTA to include services, investment, and finance sectors, aiming to deepen economic ties.
South Korea to Conduct Weekly Market Checks on Automotive Lubricants and Marine Fuel
The South Korean government announced plans for weekly inspections of automotive lubricant and marine fuel markets to control prices and improve supply stability. This move responds to recent supply disruptions and aims to enhance transparency in the supply chain.